BM Technologies, Inc., through its fintech banking platform, provides digital banking and disbursement services to consumers and students in the United States. It facilitates deposits and banking products and services between customers and FDIC-insured partner banks. The company provides access to a suite of banking products, including checking, savings, personal loans, credit cards, and student refinancing. BM Technologies, Inc. was formerly known as Megalith Financial Acquisition Corp. The company was founded in 2014 and is based in Wayne, Pennsylvania.
IPO Year: 2018
Exchange: AMEX
Website: ir.bmtxinc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/23/2021 | $21.00 | Buy | Chardan Capital |
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Ajay Asija will assume the role on April 1, 2024RADNOR, PA / ACCESSWIRE / February 7, 2024 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced the appointment of Ajay Asija as Chief Financial Officer, effective April 1, 2024. Mr. Asija will succeed James (Jim) Dullinger, who has held the role since January 2023 and will remain with the company until March 31, 2024.Luvleen Sidhu, Chair, Chief Executive Officer, and Founder of BM Technologies said, "We are delighted to welcome Ajay to BM Technologies. Ajay's extensive fintech banking experience and industry knowledge will position us well as we focus on gr
RADNOR, PA / ACCESSWIRE / July 20, 2023 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, is thrilled to announce the appointment of a distinguished marketing industry veteran, Michael Pavone, as the newest member of its Board of Directors. With an award-winning track record and 30 years of experience in the digital marketing space, Pavone brings a wealth of knowledge and a fresh perspective to the BMTX organization.Pavone is the CEO of Pavone Marketing Group, Inc., a holding company that comprises five marketing units, a data and analytics company, and a design company. Michael's strong marketing background will help
Launch of Targeted Plan to Improve Performance with approximately $15 Million of Expected 2023 Cost SavingsJamie Donahue Elected President and James Dullinger Elected Chief Financial OfficerInvestment Banking Veteran Raj Singh Joins Board of DirectorsRADNOR, PA / ACCESSWIRE / January 30, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced today a series of actions being taken to streamline its operations, strengthen its management team, position the Company for future growth, and drive long-term shareholder value.Profit Enhancement PlanIn
Radnor, PA, July 29, 2022 (GLOBE NEWSWIRE) -- BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, announced the expansion of its senior leadership team that includes Jason Swartley as General Counsel, Amanda Meyer as SVP, People, and Steve Lenderman as SVP and Executive of Global Loss Prevention & Fraud Management. Swartley manages all corporate legal matters, including litigation, contracts, third party risk management, and enterprise ethics. Meyer leads the strategic people roadmap for BM Technologies (BMTX), including business and people transformation, and team building and integration. In his role, Lenderman is
Chardan Capital initiated coverage of BM Technologies with a rating of Buy and set a new price target of $21.00
Maxim Group initiated coverage of BM Technologies with a rating of Buy and set a new price target of $25.00
Year-to-Date 2024 Revenue of $42.8 Million, Up 6% YoYBM Technologies to be Acquired by First Carolina Bank for $5 per share in cash RADNOR, PA / ACCESSWIRE / November 14, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and nine months ended September 30, 2024.On October 25, 2024, BM Technologies entered into a definitive agreement to be acquired by First Carolina Bank ("FCB" or "First Carolina") pursuant to which First Carolina will purchase all outstanding BMTX shares of common stock for $5.00 per share in a
Honored for Delivering Cutting-Edge Solutions-BankMobile Disbursements and BankMobile Vibe-That Address Key Challenges in Higher Education for Schools and Students RADNOR, PA / ACCESSWIRE / November 6, 2024 / BM Technologies, Inc. (NYSE:BMTX) proudly announces its Tech & Learning Award of Excellence: Back-to-School 2024 win in the higher education category for its innovative products, BankMobile Disbursements and BankMobile Vibe.The Tech & Learning Awards celebrate products designed to address critical needs in the education sector, offering schools versatile, valuable solutions to specific challenges and significantly enhance teaching and learning outcomes.BMTX has been providing white-labe
BM Technologies Stockholders to Receive $5.00 Per Share in Cash, Representing 55% Premium to Market RADNOR, PA / ACCESSWIRE / October 25, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("the Company" or "BMTX"), one of the largest digital banking platforms, today announced it has entered into a definitive agreement to be acquired by First Carolina Bank ("FCB" or "First Carolina") pursuant to which First Carolina will purchase all outstanding BMTX shares of common stock for $5.00 per share in an all-cash transaction with an equity value of approximately $67 million.Under the terms of the agreement, BM Technologies stockholders will receive $5.00 per share in cash, which represents a 55% premium to
Safeguarding Student Enrollment and Upholding Higher Education Institution Integrity with BMTX Identity Verification™ (IDV) RADNOR, PA / ACCESSWIRE / October 16, 2024 / BM Technologies, Inc. (NYSE:BMTX) is excited to announce the launch of its innovative student identity verification service, BMTX Identity Verification™ (IDV), designed to combat the growing issue of student enrollment fraud in higher education institutions. With the cost of acquiring new undergraduate students increasing by up to 32% from 2020 to 2022 alone,1 the need for robust enrollment fraud prevention measures has never been more critical.Enrollment fraud is a significant issue nationwide, particularly for community col
Shannon Rose Geraghty recognized for leadership in promoting financial education through viral social media content, campus programs, and community outreach RADNOR, PA / ACCESSWIRE / October 9, 2024 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced that Shannon Geraghty, a student at Barnard College, has been named the recipient of the 2024 BMTX Annual Financial Empowerment Scholarship. Shannon was selected from over 300 applicants for her outstanding contributions to financial empowerment in her community.The BMTX Annual Financial Empowerment Scholarship was established in 2015 to reward students who
Donahue to Discuss Breakthroughs in FinTech Innovation with Industry Leaders RADNOR, PA / ACCESSWIRE / September 10, 2024 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, is pleased to announce that Jamie Donahue, President and CTO of BMTX will speak at two prominent fintech and financial services innovation conferences in September, including the following.Finovate Fall 2024 - September 11, 2024, New York, NYFinovate is an industry-leading FinTech conference by and for executives and thought leaders who are revolutionizing the financial services industry. The event will feature 120-plus renowned speakers and sector
First Half 2024 Revenue of $28.7 Million, Up 10% YoYQ2 2024 Interchange and Card Revenue Increased 57% YoYGrowth Initiatives Launched with Cash Back Rewards Engine & 15 Identity Verification (IDV) Product Sales YTD RADNOR, PA / ACCESSWIRE / August 14, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and six months ended June 30, 2024.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "This quarter we have made strong progress towards our strategy of digital transformation and setting the stage for growth i
RADNOR, PA / ACCESSWIRE / August 12, 2024 / BM Technologies, Inc. (NYSE:BMTX) (the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, will host a live webcast to discuss its second quarter 2024 earnings on August 15, 2024 at 9:00am ET.The live webcast of the call can be accessed at 2Q24 Webcast Link as well as on the company's investor relations website at https://ir.bmtxinc.com/events-and-presentations/events-calendar/default.aspxAbout BM Technologies, Inc.BM Technologies, Inc. (NYSE:BMTX) - formerly known as BankMobile - is among the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, pr
BMTX Enhances Customer Banking Experience with Rewards-as-a-Service API, Providing Seamless Cash Back Opportunities, Unlimited Offers, and Access to Over 50,000 Top Merchant Locations Nationwide RADNOR, PA / ACCESSWIRE / July 29, 2024 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, is thrilled to announce the launch of a rewards engine to its BankMobile Vibe Checking Account. Powered by Kard, the first rewards-as-a-service API, this innovative rewards engine aims to financially empower customers while driving loyalty among customers, giving them the opportunity to earn cash back1 on debit card purchases from nationa
Revenues and EBITDA Reflect Significant Improvement Year over YearQ1 2024 Revenue of $16.2 Million, Net Income of $0.7 MillionQ1 2024 Core EBITDA of $1.4 Million RADNOR, PA / ACCESSWIRE / May 15, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three months ended March 31, 2024.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "The first quarter of 2024 marked an important turning point in our company's evolution. The hard work of 2023 has begun to pay off as we posted positive net income of $0.7 million and Co
First Half 2024 Revenue of $28.7 Million, Up 10% YoYQ2 2024 Interchange and Card Revenue Increased 57% YoYGrowth Initiatives Launched with Cash Back Rewards Engine & 15 Identity Verification (IDV) Product Sales YTD RADNOR, PA / ACCESSWIRE / August 14, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and six months ended June 30, 2024.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "This quarter we have made strong progress towards our strategy of digital transformation and setting the stage for growth i
Revenues and EBITDA Reflect Significant Improvement Year over YearQ1 2024 Revenue of $16.2 Million, Net Income of $0.7 MillionQ1 2024 Core EBITDA of $1.4 Million RADNOR, PA / ACCESSWIRE / May 15, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three months ended March 31, 2024.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "The first quarter of 2024 marked an important turning point in our company's evolution. The hard work of 2023 has begun to pay off as we posted positive net income of $0.7 million and Co
Full year 2023 Revenue $55.3 MillionTransfer of Higher Education Deposits to First Carolina Bank ("FCB") in December Increased Annualized Interchange Fees by 20 Basis PointsRADNOR, PA / ACCESSWIRE / April 3, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and twelve months ended December 31, 2023.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "In December of 2023, we completed the transfer of the Higher Education customer deposits to our new partner bank FCB. Effective with the transfer, we are earnin
Year-to-Date 2023 Revenue $41.2 MillionTransfer of Higher Education Deposits to First Carolina Bank ("FCB") in December Expected to Result in Increased RevenueRADNOR, PA / ACCESSWIRE / November 20, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and nine months ended September 30, 2023.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "We have begun the process of transferring customer deposits in our Higher Education vertical to our new partner bank, FCB, which is a Durbin-exempt bank. Deposit holder no
RADNOR, PA / ACCESSWIRE / August 22, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and six months ended June 30, 2023.Luvleen Sidhu, BMTX's Chair, CEO and Founder, stated, "We are pleased to have entered into an amendment of the Deposit Servicing Agreement with FCB that will allow us to initiate the process of transferring our Higher Education deposits from Customers Bank to FCB with targeted completion no later than the end of 2023. Had a Durbin-exempt bank partnership been in place during the second quart
Q1 2023 Revenue $13.5 million Continued Progress on Profit Enhancement Plan ("PEP") Reiterates 2023 Financial Outlook RADNOR, Pa., May 22, 2023 /PRNewswire/ -- BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and banking-as-a-service ("BaaS") providers in the country, today reported results for the first quarter ended March 31, 2023. "Q1 2023 tracked very closely to our expectations," said Luvleen Sidhu, BMTX's Chair, CEO, and Founder. "First quarter results were temporarily negatively impacted by the loss of Durbin-exempt interchange until we transition our Higher Education business to a new sponsor bank. Our
Full Year 2022 Revenue $83.6 million; Net Loss $0.8 million, Core EBITDA1 $14.5 millionNew Bank Partnership with First Carolina Bank ("FCB") for Higher Education BusinessNew Two Year Servicing Agreement for Existing and Largest BaaS PartnershipProfit Enhancement Plan ("PEP") with $15 million of Targeted 2023 Cost SavingsRADNOR, PA / ACCESSWIRE / March 27, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and banking-as-a-service ("BaaS") providers in the country, today reported results for the three and twelve months ended December 31, 2022."We begin 2023 with a new bank partnership with FCB for our High
Raj Singh, a Veteran Financial Services Executive, Named as Co-CEOJamie Donahue Promoted to President and Jim Dullinger Promoted to Chief Financial OfficerRADNOR, PA / ACCESSWIRE / March 27, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, announced today the appointment of Raj Singh as Co-CEO."The Board of Directors and I are delighted to welcome Raj as my partner and Co-CEO as we position BMTX for our next phase of growth," said Luvleen Sidhu, Chair, CEO, and Founder of BMTX. Sidhu continued, "Raj has been a valued partner for nearly three years, advising us
Two Year Extension of Existing and Largest BaaS PartnershipNew Bank Partnership with First Carolina Bank for Higher Education BusinessNew Agreement with Customers Bank for Existing and Largest BaaS PartnershipRADNOR, PA / ACCESSWIRE / March 22, 2023 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced that the Company has executed a new Deposit Processing Services Agreement (DPSA) with First Carolina Bank for the Higher Education business and a new DPSA with Customers Bank for our existing and largest BaaS partnership deposits. Both bank partnership agreements include variable rate servicing fees which wi
RADNOR, PA / ACCESSWIRE / February 23, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced today that it will release its financial results for the fourth quarter and fiscal year ending December 31, 2022, after the market closes on Monday, March 27, 2023. BMTX management will discuss these results and other information regarding the Company during a conference call and audio webcast on Monday, March 27, 2023 at 5:00 p.m. ET.The audio webcast can be accessed at Q4 Webcast Link well as on the Company's investor relations website at https://i
Northland Capital Markets analyst Mike Grondahl maintains BM Technologies (AMEX:BMTX) with a Market Perform and raises the price target from $3.25 to $3.5.
Chardan Capital analyst Brian Dobson maintains BM Technologies (AMEX:BMTX) with a Buy and maintains $8 price target.
U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling around 0.1% on Thursday. The Dow traded up 0.01% to 39,912.06 while the NASDAQ fell 0.10% to 16,726.17. The S&P 500 also fell, dropping, 0.04% to 5,306.04. Check This Out: Oklo Is ‘Too Risky,’ Jim Cramer Says: Buy This General Electric Spinoff Instead Leading and Lagging SectorsConsumer staples shares rose by 1.7% on Thursday. In trading on Thursday, materials shares fell by 0.5%. Top Headline Deere & Co (NYSE:DE) reported upbeat second-quarter earnings, but lowered its net income 2024 outlook. The company's net sales and revenue declined 12% year-over-year to $15.235 billion, beating
Shares of Fluent Inc (NASDAQ:FLNT) fell sharply during Thursday's session after posting weaker-than-expected quarterly results. Fluent posted adjusted loss of 30 cents per share, versus market expectations for a loss of 10 cents per share. The company's quarterly sales came in at $65.983 million missing estimates of $66.433 million, according to data from Benzinga Pro. Fluent shares dipped 12.6% to $3.47 on Thursday. Here are some other stocks moving in today’s mid-day session. Gainers Lucy Scientific Discovery Inc. (NASDAQ:LSDI) shares jumped 239% to $1.75. Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) jumped 100% to $0.1196 after jumping around 34% on Wednesday.
BM Technologies (AMEX:BMTX) reported quarterly earnings of $0.01 per share which beat the analyst consensus estimate of $(0.21) by 104.76 percent. This is a 102.33 percent increase over losses of $(0.43) per share from the same period last year. The company reported quarterly sales of $16.18 million which beat the analyst consensus estimate of $15.06 million by 7.44 percent. This is a 20.00 percent increase over sales of $13.48 million the same period last year.
Chardan Capital analyst Brian Dobson maintains BM Technologies (AMEX:BMTX) with a Buy and maintains $8 price target.
Chardan Capital analyst Brian Dobson maintains BM Technologies (AMEX:BMTX) with a Buy and maintains $8 price target.
Growth Initiatives and OutlookThe Company anticipates revenue growth in 2024 driven by investments in the Higher Education vertical and the full year effect of Durbin-exempt interchange rates on the majority of serviced deposit account holder's debit card spend. The Company also expects a return to positive Core EBITDA1 in 2024 based on these higher revenues and stricter cost controls implemented as part of the Company's PEP.Technology Initiatives and OutlookJamie Donahue, President and Chief Technology Officer stated, "The Company is actively executing on its technology transformation plan to accelerate growth opportunities and enhance the competitive advantage that already exists in our un
BM Technologies (AMEX:BMTX) reported quarterly losses of $(0.28) per share which missed the analyst consensus estimate of $(0.25) by 12 percent. This is a 21.74 percent decrease over losses of $(0.23) per share from the same period last year. The company reported quarterly sales of $14.86 million which missed the analyst consensus estimate of $14.95 million by 0.61 percent. This is a 5.26 percent decrease over sales of $15.68 million the same period last year.